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tv   Varney Company  FOX Business  May 9, 2014 11:00am-1:01pm EDT

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microbial content and all these things. not for us to eat yet but if there's any left over we might get a little bite. >> thanks to nasa astronaut steve swanson and rick mastrac h mastracch mastracchio. stuart: good friday morning, this is not steve jobs's apple. tim clark paid $3 billion for a second-rate and the company. maybe he is buying into the screening business. president obama koch spinning the climate report. janice dean knocked it down and she was right. the irs says it will release all lois lerner's e-mails, all of them. the nfl is king. media extravaganza last night, a huge audience and a slew of instant millionaires.
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last one, mcdonald's, season fries, the once they have got are the best. varney and company is about to begin. ♪ >> the houston texans take ja n javanian clowny. don: stuart: new york city, almost 7 million people, covered simultaneously by two networks. clearly the nfl knows how to make something big and make a lot of money when they do it. instant millionaires made last night, the first pick, you just saw him, he is expected to sign at $20 million contract with houston texans, clowny signed an endorsement deal for an undisclosed amount but surely it
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ran to millions. the other big story from the draft, mr. football getting picked twenty-second overall. he is expected to sign $9 million deal but he lost an estimated $15 million being picked later. ladies and gentlemen, maybe you missed the laughter in the studio a moment ago. his name is johnny mandel. i will get it right. we got more on money. brand new millionaires coming up but look at the big-name stocks making news and money this morning. no money and apple. is close to buying beat electronics, it will pay $3 billion for, they make headphones but also a music streaming service, just started that. maybe that is why they bought it but the stock is down $6. the rival pandora dagen: earlier, look at it now, down dead flat.
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some people think fat apple made by pandora ii in the same line of streaming business, pandora dead flat. not much of a bounce for tesla. disappointing numbers earlier in the week. that is not a bounce at all, tesla was down 177. we got higher sales and a better forecast from gap helped by the sales of its old navy brand. that stock is reaching 40. a week forecast that ralph lauren. nicole: the operating margins will decline because more money will be spent to build the network of this sort. when they are going to be spending more money for the network at the stores everyone starts to shriek and shiver and stock is down 3.7%. they expect global revenues to rise 6% to 8% but the spending is making everybody nervous. stocks at a new low, the number
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3 loser in the s&p 500. stuart: that is a rotten shark. thanks, have a happy friday. the president using the results of the national climate assessment report to push his green agenda all week but if you read deep into the record you find results are not quite in line with the president's message. i will quote directly from the report. there has been no universal trend in the overall extent of drought across the continental u.s. since 1900. trends in severe storms are uncertain and being studied extensively. no clear connection between extreme weather events and global warming, the opposite of what the president said. right now from the president's the report that is where this quote cames from, seems to back up what janice dean told us earlier this week. >> people who get a 5 day forecast and say look at this flooding in florida, this is
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climate change and that is starting the fear mongering. that is what i don't like. the weather is always changing, always evolving and always adapting. it has since the beginning of the atmosphere. stuart: mike pompeii is with us from kansas. we ask you here because you are from kansas, in the middle of tornado alley. do you link tornadoes to global warming and climate change? how is this playing in kansas? >> thanks for having me on today. the president is fundamentally misreading and even using it to mislead the american people. his own data doesn't support the claim, that climate change, caused by man or not, climate change itself has no direct impact on increases or decreases in the global weather phenomenon you are talking about, a deep connection, disturbing to have the president -- it doesn't become true because you keep repeating it from the white house. stuart: why does the president
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do this? global climate change is low on the list of priorities for american voters. he has gotten a lot of flak for pursuing this before an election. why is he doing this? >> the president's based is anti fossil fuel so there is an effort to regulate carbon content. stuart: sorry to interrupt, but how big is that based? how much of america is reall against fossil fuels? >> a very small fraction but the folks this president often plays to, the folks he tries to keep satisfied so he can continue to have the positions that he does, the influence and power he believes he has so he is playing to a tiny fraction of the american population but they are very vocal, occupy positions in hollywood and the media and places where they can be very vocal and amplify this false message. stuart: the irs has agreed to release all e-mails from lois
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lerner. are you confidence that all will be released? what about redaction? blacking out whole sections? are you confident to get the mall? >> i am a believer verifying what these folks at the white house. we see no evidence when we asked for materials will provide some whether that is an effort to resolve the riddle that benghazi or this effort where they targeted conservative groups. they hand as a little bit and redact, don't provide continually mail change, i will be thrilled if we see all the information that relates to lois lerner's contacts and communication and e-mails about the behavior that caused her to flee the fifth amendment. stuart: thank you for joining us, the irs story is close to our viewers's hearts, appreciate you coming buy and giving extra information on this. back to the apples story. probably the biggest corporate story of the day. is making the controversial purchase, the head phonemaker
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beat electronics. does more than head phones. led get more on this story. veronica is with the wall street journal. first-time on. >> this is great. stuart: come john in. is this the apple, the steve jobs bill? >> seems like a very different apple in some regards. first of all steve jobs was not into streaming music. people want to buy their music, not stream their music. that and it will be the largest acquisition apple has done so that is a big change as well because apple hasn't done such big deals. also they also haven't been as public about their deals either. this is getting a lot of headlines. he is not chasing headlines, who knows what he is doing right now? at the same time this is a shift because typically they like to keep what they are doing under wraps a little more than what is happening. stuart: i got a good guess what steve jobs would have said at
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those particular head cents. listen for a second to what dr. dray had to say about this deal on facebook. rolled that please. >> forbes lists just changed. it came out two weeks ago. they need to update. it just changed. oh my. first billionaire right here. on the west coast. stuart: that is a lot. bad language there, boasting about being -- do you think that little clip there is possibly enough to upset this deal? some people are saying that. charles: they could get in trouble. mostly -- stuart: when you don't think it upsets the deal? charles: i don't think so. as far as the language you have never listened to a doctor dray
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song before. i want to disagree on a few things which you called this a second rate had phone company. maybe someone wrote that. second-rate company. stuart: second-rate head phones. at the meeting this morning, wait a minute, the youngsters were basically saying other head sets were better, more expensive. buying second-rate product. charles: who is saying is second-rate? stuart: i am. charles: i say you are wrong. they are only paying three time sales for this company. people were crying about what happened, $19 billion income, these guys need $1 billion. stuart: they using steve jobs would buy those head sets. charles: if apple ran out of the innovation pipeline they might have to. they are sitting on all this cash. i am just saying i don't know what they have in the pipeline. people again and see with apple,
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they are not doing anything. they're not doing anything, on $170 billion and wears a watch? where is the product setting the world on fire? just for marketing on this alone, you will make it back above all the deals we have seen, we should be celebrating upward mobility, now -- we should be celebrating the owner should society, we were talking about on for for northshould going down and making a one billion dollars and it is a crappy co. a bad deal. it is amazing. i celebrate it. this is what we should be celebrating. stuart: i hear you. >> interesting deal because of streaming apps, apple lead in the game with streaming should give them a better on-site into that and that is what the deal is all about. stuart: all right. hold on a second. charles: i am just saying. stuart: if it is not broke don't fix it. tell that to mcdonald's.
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the company is testing season french fries in northern california. new coke all over again to me. charles: a bad pipeline. they have to find a way to stay relevant. new fries, new burgers, new everything, you get to a certain point in gross you have to figure it out and is tough because it is harder and harder. you have competition, the old roman empire you had a fist off and everyone is nipping at your you're keeping the mall together at the same time. stuart: any last words? >> i won't eat them but i will try it. stuart: does anybody know what the seasoning is? peppercorn fries. charles: a lot of fun key chips are not too bad. stuart: one of them is ranch fries. check the big board.
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where are we? 12 minutes past 11 on friday morning, down 36 points. big surprise from the nfl draft, johnny mandel, johnny football to some people, picked twenty-second, costing him big breaks, footballs signed by him on draft day. how much less is it worth because he was number 22? you will find out in a minute. can you start tomorrow?
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yes sir. alright. let's share the news tomorrow. today we failrly busy. tomorrow we're booked solid. we close on the house tomorrow. i want one of these opened up. because tomorow we go live... it's a day full of promise. and often, that day arrives by train. big day today? even bigger one tomorrow. when csx trains move forward, so does the rest of the economy. csx. how tomorrow moves. the numbers are impressive.
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over 400,000 new private sector jobs... making new york state number two in the nation in new private sector job creation... with 10 regional development strategies to fit your business needs. and now it's even better because they've introduced startup new york... with the state creating dozens of tax-free zones where businesses pay no taxes for ten years. become the next business to discover the new new york. [ male announcer ] see if your business qualifies. ♪ 800,000 hours of supercomputing time, 3 million lines of code, 40,000 sets of eyes, or a million sleepless nights. whether it's building the world's most advanced satellite, the space station, or the next leap in unmanned systems. at boeing, one thing never changes. our passion to make it real. ♪ our passion to make it real.
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so ally bank really has no hthat's right, no hidd fees.nts? it's just that i'm worried about, you know, "hidden things." ok, why's that? well uhhh... surprise!!! um... well, it's true. at ally there are no hidden fees. not one. that's nice. no hidden fees, no worries. ally bank. your money needs an ally. stuart: breaking news, pope francis called for governments to redistribute wealth to the poor in a new spirit of generosity to help curb the economy of exclusion, taken right from the pope's statement, the economy of exclusion this team made the appeal during a speech to the secretary general and heads of major u.s. agencies who met in rome this week. that is from the pope. check the big board, we are two
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hours into this session on friday morning, down 35. look at the level, 16,515. the price of gold hovering around $13 an ounce, down $0.30. the price of oil hopping around $100. $0.69, up $0.43 as we speak. are you curious about any particular stock. and charles will tell you what you need to know about the stock. two of them today, we start with this. charles: a 3d printing co. getting smoked today, hammered big time. i had to do two, hammering two companies are like, stratus is the numbers, they beat the top and bottom lines, earning money, money to catch tax, may seem less acquisitions. you can argue it is overvalue untraditional value metrics that anyone selling it is making a gigantic mistake. obama viewers are in the stock.
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i wanted to follow-up on this. stuart: the next when you followed previously when asked about ubiquity networks which does? charles: telecommunications, mostly around world. revenues are up 100%. 35% just across the board, spending money, manage r&d and everything but one of these companies, insiders selling a lot of talk so it got tainted and in this whole sphere. you don't have to buy it today, it will be a higher stock year from now. stuart: don't sell it to a bloodbath. charles: we traded them a couple times. a lot of viewers are in them. and please don't sell it to the
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blood bank. stuart: you are begging the audience. charles: year from now they will regret it. stuart: the first round of the nfl draft was last night, johnny mandel was scooped up by the browns that that is not all he was. in the pipeline he signed an exclusive autograph deal with north america, the world's largest sports and entertainment collectibles company. we are joined by the vice president of marketing. you got to be disappointed that johnnie football was picked no. 22, you can't be happy about that. >> we are ecstatic because we are the analysts, john was going to go at 3 to cleveland. stuart: wait a second. this football signed by johnny mandel, are you telling me that it would have been with x number of dollars if he was first pick or second pick your third pick and you don't care that he was number 22? it is not worth less?
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>> is not worth was. first take maybe goes up a little more but he is one of those football players that transcends the game. you have the nfl draft last night, highest ratings ever because of this guy here. stuart: was it just because of that or the nfl made it a huge gigantic event? media event in the middle of new york city? >> they have been doing it for years, it helps that it is a big event with nfl support but this is like christmas day for nfl fans and for cleveland this is christmas day. after all the quarterbacks they had this is the perfect guy for them. stuart: when you were at radio city and you spent this week going around to the stars, getting their autograph on various cards and footballs, that is what you did. you cashed in on this event, the nfl draft. >> rookies try the trading card
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category. bridgewater, and if you are up last night late, all the excitement on that when minnesota moved in to the first round and took seattle and you have nine guys, three quarterbacks taken in the first round this year. loss of excitement for johnny. charles: what would you say if he doesn't do well? he gets his starting job? >> a lot of people going number one and say he plays with cleveland and they don't do very well. when you argue that at some point the value of these products go down a little bit? >> transcends the game, and -- charles: rookie card helps anything. >> it is -- stuart: that is not the point.
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stuart: such as special guy the value can't go down. >> for memorabilia perspective we won't see it for a long time. stuart: when you are arguing in your book you can't agree with me you can't possibly agree with me. how could you agree with me. >> all you have to do is google johnny mandel. how many media impressions did he get last night. clowny compared to the first quarterback. this one sells for $350. stuart: okay. how many did he sign. >> we have a limited number, this one right here is limited to 350. stuart: this brown football is limited to 300,000. >> this one, this is the nfl's version that we haven't put a limited number on. stuart: supply and demand = price. you know what i mean?
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penny trading cards company, good luck with this, okay. two topics for you next. first we ask the question, you responded in droves. which would you rather lose? your wallet or your cellphone? and fitness man tony little, do you realize he sold $1 billion worth of one exercise machine to your reaction from face book and twitter is next. >> you are unbelievable british economic guy, right? maybe you can help me make more from these people. you can give me the techniques. tell me out, would you? we've never sold a house before.
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(agent) i'll walk you guys through every step. there are a lot of buyers for a house like yours. (husband) that's good to know.
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trwith secure wifie for your business. it also comes with public wifi for your customers. not so with internet from the phone company. i would email the phone company to inquire as to why they have shortchanged these customers. but that would require wifi. switch to comcast business internet and get two wifi networks included. comcast business built for business.
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kind of a tossup between the two. and lots of response. sandra after this one. cell phones. not a big deal.
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wallet. okay. thank you, sandra. good story. never caring any cash. this is true. i said i would rather lose. i prefer to lose the cell phone. that is the way i see it. let us know what you think. tony little is here today himself. he shows us the fitness machine. he has also made himself quite a bit of money doing so. listen to this. >> you know, you do it with a product that people love.
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you agree with that. no surprise this guy is making money. he makes exercising seem fun just by watching him swing his legs and yell. charlie says tony little can sell anything and make billions. i would love to see you team up with him. stuart: i am just fine sticking with tv. thank you very much indeed. we need more people like build the law the oh reading our country. up next, the man who says that. ♪
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use caution when driving or operating machinery. common side effects include nausea, trouble sleeping and unusual dreams. my quit date was my son's birthday. and that was my gift for him and me. ask your doctor if chantix is right for you.
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stuart: charles is here. he says if we put money into chesapeake energy, we will make money.
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charles: of course they had the big thing with their ceo. it is reemerging as a darling. blowout numbers. the earning estimates are going up. they will grow exponentially over the next few years. the ceo is gone. the peg ratio. i think that this will finally live up to some of the hype and potential that it has. he was no joke. although, it yesterday, i think the sec exonerated him. i did not want to distance him too badly, but he did cast a shadow. pope francis calling for government to redistribute wealth to the poor.
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elizabeth macdonald is here. liz: coming out as being i favor socialism. that is not what he is saying. the catholic practice rejects socialism. the pope -- does he need to be clearer in his message?
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charles: a thin line here. you know, you say he has to be sharper. perhaps he is. he has doubled down on everything he has already said. you are telling governments to sort of fix this notion of income inequality artificially. having a debate about a kid that was born in a poor city in california and now he is a billionaire. i know we can still pull ourselves up. liz: interfering with personal freedoms. we have seen socialism fail around the world. stuart: hold on, liz. we have an interesting guest on
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this. he says we need more progressives. joining us is the author of the fight of the four freedoms. >> it is great to be here. what more could you want? stuart: you think we should have more people, more politicians like him? if you live in new york city at the moment, you make a lot of money. if you do, you pay $0.60 on the dollar in tax. you do. you know that.
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it is exciting. it is thrilling. lower incomes driven out of the city because they could not afford to live. you think it is moral for a government to take 60 sense on the dollar. >> a system in which i think it is moral to fight a system in which the rich get richer and the poor get poorer. stuart: do you think that it is moral for a government to seize $0.60 on a dollar for what a rich person makes.
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>> and all bolted to -- to enable public investments. stuart: what is that to you? >> i will tell you this, america's -- in the 1950s, we have the highest tax rates in the best economic growth in history. 60% of someone's income taken by the government, is that fair? yes or no? >> is it fair to not pay a living wage in america? liz: will you or will you not answer the question? >> i am interested in the
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country -- >> i think that the numbers are relevant. i think the question to ask is how do we sustained american democratic light. how do we sustained a middle-class nation. this middle-class nation has been under siege. how do you sustain it? let's go back to eisenhower i am asking a question. i love this. stuart: we are getting nowhere. >> i believe in pursuing the fourth freedom be to apple looking to pursue dr. dre headphones. i say yes. ♪ >> it came out like two weeks ago. they need to update the forbes
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list. [bleep] right here from the [bleep] west coast. ♪
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when folks think about what they get from alaska, they think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america. ♪ stuart: radioshack will not be closing as many stores previously announced.
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not raising a deal over how many stores would close over the terms of the loan. the agreements will only allow 200 closings shares down more than a present. the company unveiled a new logo this week. the company moving its headquarters to london. sales at $4.3 billion sales. apple reportedly in talks to buy beats by dr. dre. we discussed that. it is next. ♪
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stuart: here is a name that you know. nicole, the stock, please. help then. nicole: that certainly is a nice move to the shareholders today. the amazing part is you have some of that analyst talking about the hotel industry overall. some acquiring analytics say it is back to peak occupancy. we would expect greater increases in pricing. that is exactly what hilton is saying. they are seeing more business and leisurely travel. that is the amazing part.
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that is why you see the stock to the upside. stuart: thank you, nicole. apple is in talks to buy beats by dray. what about the product? we were talking about this earlier. we asked the rhetorical question if this was the kind of product steve jobs would buy when he was running apple. would steve jobs support this kind of product? >> that is a great question. yes, he would have bought these. he loved a good audio. we talked great links about buying that. he boasted on stage how great this thing was. no one bought it.
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it was mediocre at best. apple ships white earbuds with all of their items that are mediocre at best. beats headphones have been slammed by many for being mediocre at best. they are the most identifiable looking headphones that you will see out there. beats is the only one. stuart: bows. >> perhaps. beats really lead be to the charge on identified old will brand recognition. they bought next computers. why would they buy that. they got steve jobs as a result. they do not by brands like this.
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beats sold 16 million headphones in seven years. i really think the reason they bought it is the accessories market. stuart: i think it is because beats got into the streaming business. no one buys beats screaming prescription service. i cannot name a friend of mine that has beats. can you? apple has itunes. the most recognizable digital media stored in the world. >> if you go to buy a car and you are 24 years old i swear that they would be swayed by that. they really would be. i just do not think that apple is buying this, unless they have
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been pushed by investors to unleash some of their cash towards. charles: what do you guys have in your pipeline itself. for me, a company that made a billion. what is in the pipeline? what is going on? >> when you have big leaps like you do with the ipad and iphone, it is kind of hard to have another home run a year later. it will fill a huge gap that has been left vacant by apple right now.
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stuart: there is something i want to fit in before we close. snap chat. i thought if i worked on snap chat, you could read it and 10 seconds that message totally deeds forever. i am told that is not true. >> you and millions of people thought that that was the case. if i sent a video to you, you were led to believe that it was gone. it was still living locally on your device. i have had access to your video. anyone thinks that when they sign up for a company for some app, remember, there are multiple ways where this stuff is being stored.
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stuart: to me, that takes a lot of value out of snap chat. >> you want the videos to self-destruct. stuart: clayton, it was a pleasure. you know the saying. cash is king. could not be more true when it comes to housing. explain that in a moment. ♪ we've never sold a house before.
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(agent) i'll walk you guys through every step. there are a lot of buyers for a house like yours. (husband) that's good to know. can you start tomorrow? yes sir. alright. let's share the news tomorrow.
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today we failrly busy. tomorrow we're booked solid. we close on the house tomorrow. i want one of these opened up. because tomorow we go live... it's a day full of promise. and often, that day arrives by train. big day today? even bigger one tomorrow. when csx trains move forward, so does the rest of the economy. csx. how tomorrow moves.
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♪ stuart: i find this incredible. 43% of all home purchases work all cash deals. cheryl casone brought us this story. i am astonished. cheryl: that is where the recovery has been.
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it was because cash buyers were coming. now participating. that is bad news. this tells me that this recovery is soft and it is in jeopardy. real estate is nothing more than an investment. a home to live in, two raise your children and is real property.
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prices have gone up pretty rapidly. >> and other cities, you may have a point about a bubble being a possibility. >> drug money and poured up buying real estate. [laughter] stuart: obama supporter. he wants to defend climate change. get ready for that. plus, a hollywood turnaround. they are outraged over the owner
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of the beverly hills hotel. this is not your normal business program, is it? our two, two minutes from now. ♪
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really... so our business can be on at&t's network for $175 dollars a month? yup. all five of you for $175. our clients need a lot of attention. there's unlimited talk and text. we're working deals all day. you get 10 gigabytes of data to share. what about expansion potential? add a line anytime for 15 bucks a month. low dues... great terms... let's close. new at&t mobile share value plans. our best value plans ever for business. the numbers are impressive. over 400,000 new private sector jobs... making new york state number two in the nation in new private sector job creation... with 10 regional development strategies to fit your business needs. and now it's even better because they've introduced startup new york... with the state creating dozens of tax-free zones where businesses pay no taxes for ten years. become the next business to discover the new new york.
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[ male announcer ] see if your business qualifies. ♪ stuart: a second our jampacked on its way to you right now. listen to this. the president twist. tom sullivan will defend it. could it be? hollywood wakes up to the reality. hollywood hypocrites at the beverly hilton hotel. a technology company about to go public. a special deal for journalists. call it a bribe? the journalist is here. i should offer advice to all of those nfl listeners. it is friday. here we go. ♪
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>> whether people can say look at this flooding here in florida. this is climate change. that is what i do not like. weather is always changing. it is always evolving. it is always adapting. >> it does not become true just because you keep repeating it from the white house. stuart: you just heard him. responding to president obama's climate change push. here is a direct quote from the report. there has been no universal trend in the overall extent of
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drought in the continental u.s. since 1900. joining us now is lumbar liquidators founder and chairman tom sullivan. you want to talk climate change. welcome back. how do you square this report? >> you go to the beach. now there is no beach. the water is rising. every year it gets higher and higher. >> there has been no universal trend since 1900. >> we can argue all day long whether there is climate change and things like that. instead of these slogans like
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drill baby drill, we need to innovate, innovate, innovate. we are exporting this new technology. creating jobs. why do something that is archaic? stuart: it is valuable. we want it. >> with the sun, wind, you can make a fuel. you can fill up at a station in connecticut in two minutes. it is not science fiction. it is here today. the longer we talk about all of this nonsense whether there is or is not climate change, that delays it.
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toyota has put $2 billion into it. within one year. >> i am not opposed to that. of course i am not saying that. i am asking you to be realistic. if you want to develop this -- okay. you want taxpayer money. >> put that into developing. as a country, we should be developing whatever is next in creating the jobs. stuart: you think using only private money we can go away from gasoline entirely in five years and be with your company and five years.
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>> we have to have incentives for people to buy the cars. stuart: you really think that you can do this in five years? >> right now about 2 million per station. you could do it in clusters. stuart: you really do know. it will take maybe 20, 30, 40 years. >> it should be started. not talking about wasting time. stuart: attends and billions
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into solar power. less than 1% of the electricity generated from america is generated into solar power. >> i would like you to go public with this. i would like you to stand for public office. let's do it. i think you are going to do that, aren't you? we wish you well. i am simply saying it is totally unrealistic. >> everything is unrealistic when it starts. you have to keep doing it. let's start, even if it is not hydrogen. stuart: do you talk to the president about hydrogen? >> yes. i support him. i have a hydrogen car.
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good luck. check the big board. where are we on a friday morning. you have to look at apple. it is putting some of their cash forward into buying a headphone maker. there is also news on the iphone front. reports that the new iphone six is coming in august. two things to go at. >> this is the new version everyone is waiting for. 5.5 and up. usually, apple unveils new iphones in september, october.
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according to reuters, it will be in august. stuart: any ideal why they are moving it up to august? >> it could be because there are two different versions. 80 million units are expected to be in production by the end of the year. 80 million being produced by the end of this year. >> yes. absolutely. they may just want to have one out there for sure before worrying about the bigger version. left. stuart: yes. we have the author of inside apple. >> i do not have any information. i am sort of abuse that everyone is responding to these rumors.
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if they bought beats, i think it would make sense in transitional accusations. two things that could work well with apple. i think you are right to point that out. i think dr. dre actually jumped the gun with his facebook appearance. he may have scotched the deal, so to speak, by saying that. all right. hold on a second. arista networks. that is a private company. they said the ceo would like to offer you options to pay the friends and family price for shares of the company's upcoming ipo. in other words, you offered a special deal to write favorably about this company and the ipo and you get special insider
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price. >> that is slightly overstating it. buying shares in ipo that the ipo that the company gives to people it feels close to for one reason or another. it would be the same price as i understand it. there was a no discussions. is that a signal of what? do you think? this was one example that we are in a technology bubble. the way we were in the late 90s. in other words, when professional companies do not have a good sense to know that it is completely unacceptable to offer her friends and family shares to a journalist. the people have taken leave of their senses.
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it is consistent with a bubble, stuart. >> if you offer the ipo price, you would get that ipo price. the possibility being that the stock picks off that day and you can make a lot of money very, very quickly. that is kind of the nature of the author. >> offering that sort of idea that the investment bankers priced it at a level that the institutional shareholders will be able to make money. stuart: you are right. that was a bubble. i hope you are wrong that this is not bubbly right now in some stocks. >> there are bubbles and there are bubbles.
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it clearly is not that way in the stock market. few technology stocks are ridiculously overvalued the way social media stocks are. it is relatively inexpensive. that was not true with big technologies companies in the late 90s, early 2000. i am not saying it will be as bad as then. there is a lot of qualitative data points that remind me of that time. stuart: well said. always a pleasure. thank you very much for being on the show today. we love to follow 3d printers on this show. nicole, what is going on? nicole: 3d printing. down six 16%. they matched the estimates.
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they wanted higher forecasts. you are seeing the stock to a downside peered 3d systems is down almost 50% this year. the momentum seems to be to the downside. no doubt. stuart: all right, nicole. thank you. burger king adding to the breakfast menu. we will explain it all, as we usually do after this. ♪ and i say what about breakfast at tiffany's vocal she said i remember the film ♪ ♪ we both kind of liked it ♪ and i said well that's the one thing we've got ♪ ♪
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when folks think about what they get from alaska, they think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs.
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stuart: listen to this. burger king is expanding its breakfast options. they say they have a secret option. it would be burgers for
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breakfast. selling whoppers at 7:00 a.m. >> they are. mcdonald's is a big player. now you have taco bell coming in with their creative waffle taco. 5000 stores across the u.s. >> that is interesting. they are not coming up with a scrambled egg version. if you go to burger king in times square, they can give you a burger for breakfast. they have always been able to do that.
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stuart: if i ate whoppers, i would eat a whopper at 7:00 o'clock in the morning. thank you, lauren. new york city-based technology company, it is called booker. it helps other companies do scheduling, employee management. last year it brought in a billion dollars worth of transactions. does that kill jobs? here to defend himself is the ceo of booker. you are hired. you are a software company.
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stuart: what are you talking about? you are hired by a big company to go out and do their administrative assistant work. stuart: maybe they hired you to do secretarial services. >> point-of-sale. we do transactions. these businesses are running the businesses. stuart: replacing human beings. >> if you are a service business, you are providing a massage or a haircut. you cannot replace those people. they are using our systems to drive customer to those
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businesses. stuart: you never work with a manufacturing company? is it just service operators? >> it is off base. that is what i am trying to say. stuart: love it. >> cloud -based software. stuart: what does that mean? >> a new way that software develops these days. legacy software. you used to get the cds and stick it into your system. you have your iphone right there. stuart: it comes back down to me . in that cloud, you can fix me up to fix all kinds of services or elements of my business that you do more efficiently.
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>> absolutely. you can see what is happening in your business day. if you are the consumer and you want to book a service, you can go right on to your iphone and book it right there. stuart: i could criticize by saying you are replacing some jobs. you are making things more efficient. >> and accessible. it collapses everything. that is what you are doing. i do not know how you show your face in public. it is private. >> yes. it is private. stuart: would you personally sell out tomorrow morning? >> not a chance.
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stuart: a billion dollars? >> i would probably think about that. josh mccarter. a private sector. thank you for joining us. last night nfl draft. my take on that. that is next. ♪ i'm m-a-r-y and i have copd.
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i'm j-e-f-f and i have copd. i'm l-i-s-a and i have copd, but i don't want my breathing problems to get in the way of hosting my book club. that's why i asked my doctor about b-r-e-o. once-daily breo ellipta helps increase airflow from the lungs for a full 24 hours. and breo helps reduce symptom flare-ups that last several days and require oral steroids, antibiotics, or hospital stay. breo is not for asthma. breo contains a type of medicine that increases risk of death in people with asthma. it is not known if this risk is increased in copd. breo won't replace rescue inhalers for sudden copd symptoms and should not be used more than once a day. breo may increase your risk of pneumonia, thrush, osteoporosis, and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking breo. ask your doctor about b-r-e-o for copd.
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first prescription free at how much money do you think you'll need when you retire? then we gave each person a ribbon to show how many years that amount might last. i was trying to, like, pull it a little further. [ woman ] got me to 70 years old. i'm going have to rethink this thing. it's hard to imagin how much we'll need for a retirement that could last 3years or mor so maybe we need to approach things dferently, if we want to be ready for a longer retirement. ♪
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the one the hotel people got a strong outlook and profits triple, that is nice for stock-market gain. higher sales and a better forecasts at the gap up 4%, at $40 a share.
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question, hollywood turnaround, outrage on the owner of the iconic beverly hills hotel to share real omaha. steven colbert made fun of me last night. it was funny. i will respond later this hour. 32 guys got picked in the nfl draft last night and became instant millionaires. here is my kate, my advice. most of these young men are probably not used to having serious money so they are probably not prepared for what is coming. here is what i would do. at first, nothing. resist the impulse to spend. take time to figure out the new world of wealth. i say six months at least, do nothing, no flashy cars, houses, bling or anything else, until you have a better handle on the cash. i would also be tight, thrifty,
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why throw it around just because you have got it? surely the objective is to keep it long-term. you are in your 20s. beware of great investments operated by friends or relatives. you are in the football business, not restaurants, bars or nightclubs and absolutely no loans. one more thing, right of free check yourself. no money goes out without your signature. it is your money. you keep control of it. that is my advice but you got to remember where i am coming from. i am sheep, i am thrifty. i don't enjoy spending. i enjoy having capital because to me that is liquid freedom. to me it is more fun piling it up and shoving it out the door. i am probably in the tiny minority. most people do not share my approach to money. these youngsters are probably dead opposite from me. many of these young men will get far more out of life with a
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mercedes and the mansions and i will get with my microsoft stock. if they were listening to me now, they would say that guy is mean, what is wrong with him? i am a lot older than you guys and i have seen many coming and i have seen it go out so i will stick to this advice, save it. don't spend it. when you are my age you can get the same tightfisted mean-spirited scrooge of the advice to the next generation because you will be wealthy. good luck, everyone. can you start tomorrow?
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yes sir. alright. let's share the news tomorrow.
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stuart: they have this new service in new york city, introducing it today. a few bucks extra they will guarantee the car will have a child seat use. loren has more. doesn't seem like a big deal, is it? >> not a huge deal but brings in more revenue, 10 but ducks with a child seat, all the way, additional $10 free because it is mother's day. just a program in new york city, a pilot program as well. a train drivers how to install the child seat, lot of the mcphail bat test and when the car is not with a customer who has a child they have to put those child seats in the back in the trunk so seems like it is a
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little complicated and annoying. stuart: but they want to be as much as it can be, nothing wrong with that. >> they are delivering items to your car for you, last summer they flew people with a helicopter to the hamptons, they did that with super bowl ii. don: i would like to know the price. >> 4,000. stuart: interesting development, thanks very much. finally something i will agree with about hollywood. i am going to give you a little background. the sultan of brunei and the few hotels in the hollywood area including the iconic beverly hills hotel. recently, he enforced sharia law, celebrities in hollywood on not happy with this. stars like jay leno, ellen degeneres, a boycott of that iconic beverly hills hotel. is this a sign of hollywood, celebrities are beginning to
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turn a little? our expert on all things hollywood is here. do you think this does mark anything of a turning point? that finally some people in hollywood are objecting to something like sharia? >> any decent person should object to the imposition of sharia law so -- hollywood on the back. for taking this position. it is interesting that they are making this big story of the small islamic country that most people never heard of but yes they won't take similar protests and senses on other countries in the middle east that have similar statutes of sure real law. like united arab emirates. dubai has there an international film festival that is a hot spot for celebrities and yet their police force is entrapping gays using online dating services and jailing them, these are places
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that stone for adultery or throw you in prison for adultery and hollywood is fine filming their movies in the united arab emirates. it is a small step to protest small islamic country, for all the good it would do and they are spending money in dubai and abu dhabi and other places where you have that share reimposition and they don't do anything about it. stuart: it is a boycott of the beverly hills hotel. i understand quite a few events have been canceled because of this boycott. is having some effect on that hotel. and it has generated a lot of publicity. you got to say that. >> why not boycott dubai? one not boycott their international film festival? why are george clooney and others, j. low debt accounted a few months ago in dubai? the same place that is arresting as for being in homosexual relationships. if they are going to boycott
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this small islamic country i say they should take it not just a little step further but bring huge international exposure to other human rights in justices that are happening. if anything this boycott of beverly hills hotel is hurting the employees of the beverly hills hotel. doesn't look like a sultan is going to say this hotel, that bennett stuart: that was the of this side of the coin. uconn boycott the hotel, the owner, the sultan. they will suffer from that. i am surprised to see the strength of this develop. i am not used to hollywood celebrities going against anything. last word to you. >> all of these supposed sharia law. if they use their megaton to
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bring awareness, and the we should join them bringing more awareness to them. in the one hollywood hypocrites' author jasonmac, thank you. apple's much of a billion dollar bet on had phoned company not your typical level move. is this really steve jobs's company any longer? is vision not there these days? we will cover all of that in the halftime report which is next. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros
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with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim from td ameritrade. the numbers are impressive. over 400,000 new private sector jobs... making new york state number two in the nation in new private sector job creation... with 10 regional development strategies to fit your business needs. and now it's even better because they've introduced startup new york... with the state creating dozens of tax-free zones where businesses pay no taxes for ten years. become the next business to discover the new new york. [ male announcer ] see if your business qualifies. a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people
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while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we will up it yet again. >> united states postal service lost one$.9 billion in the first three months of the year. in march the postal service's human resources officer testified before congress claiming it could not return to profitability without reform legislation. that would include delivery schedule, flexibility on pricing and control over its personnel and benefit class. those proposals have been advanced, congress has not been able to do that with these changes. and government to redistribute wealth to the forum in new spirit of generosity.
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and economy of exclusion. it may be appealed during a speech to the u.n. secretary-general, the heads of major un agencies this week. stay right there. the real halftime report starts next.
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when folks think about what they get from alaska, they think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america. stuart: time for the real halftime report. joining us from chicago scott
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kennedy, nicole at the stock exchange, ed butowksi from dallas lauren simonetti in new york. steve jobs, would he have bought a headset company like beets? >> not a change in the world. he built a great company and did it organically, had no interest in going outside and buying companies. the beat purchase probably had to happen and other purchases will happen because they have so much cash in shareholders' want growth and they can't innovate, except apple tv. steve jobs would not approve of this purchase. stuart: is this the company that apple, steve jobs bill? st. louis steve jobs company when they make a purchase like this? >> the accompany but not after a purchase like this. my daughter and a pair of those head phone that i have used them and they roquet. they are technologically cool. but they are not iconic. this is not an apple product. if you look at the product as a whole, it is the few really want
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streaming what they're going after go for 4 billion, pie spotify. stuart: the market is reacting badly. apple stock is down 1% after an acquisition like that. the market is passing judgment on this if it is not a steve jobs move. let's move on. other stuff we are covering for you. beats, still with that story, has a brand new streaming service, its rival, pandora, which is in the streaming business in a mature sense that stock is up. could this be because people think apple will buy pandora? what do you say to that? and nicole? go-ahead. >> when you saw pandora this morning on the downside obviously talked about the idea of jitters and competition. you have beats and apple kind of band that would obviously bring on competition to pandora and spotify. however, it is interesting.
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people looking into this, they don't see this as an accomplishment as they delve into it. you can see pandora moving to the upside, up 2-1/4%. for the near-term, it goes through. right now there seems to be a lack of it. stuart: i am surprised. apple has $170 billion cash, something like that. they could have bought pandora for $10 billion? as scott pointed out you could buy spotify for 4. >> one company in a category purchase or an offer made for it, other companies are going to start rising because they think they are in play. the other theoretically on the market. you will see rises in a lot of companies very similar to any streaming company. stuart: let me move on to a different subject, mcdonald's testing season fries. why are they doing this? >> northern california and st.
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louis. they need new products. the menu is getting more confusing. they are not missing with the original size above. we are always talking about millennials eating food with one hand, you got to make these yourself, you by the fries and one of three seasonings like garlic, promise and and shake it up in a bag yourself. 2 is going to want to do that? stuart: we didn't know that. that is interesting. i don't want to leave you out of the discussion. go. >> i tell you what. i am all for the change in tastes but not the extra work involved. we don't need any more work, we need easy over the counter. i understand why they are making the change. this could be a disastrous new drive. >> not sure this is good competition for the satisfied from burger king so that is more low-calorie french fries and not sure this is the answer. stuart: ed butowksi has the last word on the fraud.
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>> in this body about 15,000 are directly from the original french fry and i absolutely there was one food i am addicted to, mcdonald's french fries. i love them. stuart: hard work. the nfl draft, back to you. what advice, you are a money manager. what advice do you have for young instant millionaires? >> your advice was perfect. today and tomorrow, 90% of these people statistics show will be in financial distress five years after they finish playing so it is something i worked closely with. it is a tragedy. if you said to them if you do these you will double your money every few years, rolling in at 10%. do exactly what you see, take big risks, challenges, send a lot of money, you are spot on, take a deep breath and go learn and learn and slowed down so you have that money the rest of your life. stuart: what would you tell them
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to do? >> 30 years ago i was a bench warmer for the university of colorado and a lot of friends that were drafted they deserve a lot of the money they get paid because the average age for an offensive linemen in the nfl today is 54 years old so i say they put their lives on the line they deserve the money that have to make sure the money sticks around. they need to be as careful as they can and take good advice from quality representatives. stuart: ed butowksi or utility stocks are beating the s&p 500. to you think it is time to sell? >> no. they are annihilating them. utilities are absolutely on a roll. i expect that to continue throughout the summer. don't overdo it and if you have done really well maybe bounce a little bit because you get in trouble you are overweight too much of the wrong thing that utilities will continue to drive the market, they will continue to do very well and stick with utilities. stuart: that was quite a charge.
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that tells the story. that is it after the real halftime report. we thank everybody for joining in this friday. comedy central steven colbert had a lot of fun at my expense last night. we will bring it to you in just a moment. he sticks out his hand, i think he wants money. instead he says let me shake your hand. i still think you want money but no, he wants advice on a stock. who would have thought? he is a viewer. (mother vo) when i was pregnant...
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>> the house votes to form a select committee on benghazi but who will john boehner his investigator? and what tactics will they use to get to the truth? vice chief of staff general jack keane did with us tonight. join us at 7:00 p.m. eastern. stuart: we're always flattered when steven colbert mentions this in his show. he had a pretty interesting reaction to my take on tuesday about meeting some viewers. >> i can identify with varney's tale of being recognized by the great unwashed masses.
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this past fortnight i was on broadway and came to the square of time and was approached by a young man. you was not dressed as a banker, oh no. he was covered in red fur. and he said he wanted a picture with me. stuart: things got interesting when he decided to get crafty with his graphics department. >> america demand more stuart varney. stuart: thank you. do you have anything to add? >> i wore my skinny astaire of jeans. stuart: i don't mind -- what does that mean? >> it is the songs. check what people less saying today. stuart: can you get that? >> keep it on. stuart: this segment is
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officially over. your take is next. stick with innovation. stick with power. stick with technology. get the flexcare platinum from philips sonicare and save now. philips sonicare (agent) i'll walk you guys through every step. there are a lot of buyers for a house like yours. (husband) that's good to know.
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stuart: that was josh the corridor. booker ceo. of course, he said no, not $100 million. here is your take on the rest of the show. anna had this to say on the popular beats that apple is on talk to buy. henry had this to say about eating a burger king burger for breakfast.
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yes, i would eat a burger for breakfast. in fact, i did that a couple days ago. one last thing, president obama appearing at a walmart. he is there to promote solar panels. >> this is just coming out. stuart: the unions are very angry about this. not happy with that one. what are you getting for your wife? the mother of your child. >> a massage. and a pedicure. stuart: you are not going to give away on air what you are really buying her. >> i will take care of it on
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sunday, though. stuart: what are you doing for mother's day? >> i do not know. still up for options. you? stuart: i will be celebrating mother's day. i do not know why i brought this up. [laughter] stuart: the dow jones industrial average up now 25 points. we have been neglecting that. we are up 33 points. up 30. 16581. not bad. what do you say to that, deirdre bolton? deirdre: i do not know. i was listening on my beats headphones. it was a big day in technology. apples and talk to buy beat.
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the biggest accusation ever for apple. it is about the streaming service. more on that and the short list of investors who will met the most profits. ♪ we are also watching the end of merger plans. now, it is over. we will tell you what it means for the advertising sector. bitcoins goes to d.c. you can contribute the presidential campaign using the virtual currency. we will tell you all the world because it is a long list. stocks you just heard from stuart varney. the nasdaq, the s&p


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